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Valuing recreational water clarity and quality: evidence from hedonic pricing models of lakeshore properties

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  • Diego Calderón-Arrieta
  • Steven B. Caudill
  • Franklin G. Mixon

Abstract

This study extends the economics literature on the relationship between recreational water quality and residential property pricing by separately testing the relationships between both water clarity and quality and the price of lakeshore residential properties in Ontario, Canada. Our econometric approach includes objective measures of both attributes: Secchi disk readings for water clarity and phosphorus concentrations for water quality. Econometric results presented in this study suggest that a one-metre improvement in water clarity results in an 8 per cent residential property price premium, while a one standard deviation improvement in water quality boosts lakeshore residence prices by 32 per cent.

Suggested Citation

  • Diego Calderón-Arrieta & Steven B. Caudill & Franklin G. Mixon, 2019. "Valuing recreational water clarity and quality: evidence from hedonic pricing models of lakeshore properties," Applied Economics Letters, Taylor & Francis Journals, vol. 26(3), pages 237-244, February.
    • Handle: RePEc:taf:apeclt:v:26:y:2019:i:3:p:237-244
    DOI: 10.1080/13504851.2018.1458187
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    Cited by:

    1. David Boto-García & Veronica Leoni, 2022. "The hedonic value of coastal amenities in peer-to-peer markets," DEA Working Papers 94, Universitat de les Illes Balears, Departament d'Economía Aplicada.
    2. Andrew Bechard, 2021. "Gone with the Wind: Declines in Property Values as Harmful Algal Blooms Are Blown Towards the Shore," The Journal of Real Estate Finance and Economics, Springer, vol. 62(2), pages 242-257, February.

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